Thursday, November 3, 2011

Green Lodge, a freehold development located on Toh Tuck Road, has been put up for collective sale.

The Green Lodge site is being marketed by DTZ. The property firm said in a press statement yesterday that the asking price is above $195 million, or about $866psf ppr. The sale is being conducted through a tender exercise which will close on Dec 8 at 3pm.

The freehold property sits on a land area of about 151,075sqft. According to the 2008 Master Plan, the site can be redeveloped into a five-storey condominium project at a gross plot ratio of 1.4. Green Lodge currently has an approved density of equivalent plot ratio 1.4896, which means no development charge is payable.

DTZ said in its press statement yesterday that, assuming an average apartment size of 1,000sqft and a building efficiency of 90%, the site can accommodate about 210 residential units.

Green Lodge is located in a predominantly low-rise residential area surrounded by established landed housing estates including Toh Tuck Garden and Eng Kong Park. Pei Hua Presbyterian Primary School is within 1-km of the site.

Source: The Business Times

The wife and I did a quick check on our previous postings and found that Green Lodge was last put up for collective sale in December 2009. Several bids were received during the tender but they failed to meet the reserve price. The owners were looking for $135 million and adding a state charge of about $9.5 million, the price would come up to be $683psf ppr.

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Disclaimer:The information provided in this blog is not meant to be professional advice. By reading this blog, you are doing it on your own free will and taking whatever information we provide at your own risk.

Covering our rear ends aside, we really do not profess to be the property guru here. While writing about the property launches we have visited, we will inevitably miss out on certain details or get some of our facts wrong. So if you have a question or need clarification on the details/facts provided in our blog, do drop us a note and we will try to answer them as best we can... or tell you we don't know. If you happen to be the developer or marketing agent concerned and wants to make a point of correction, we be happy to hear from you too (but preferably not via your lawyers please).

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